Goldilocks "Cryptos, Digital Assets, QFS and more" Sunday 6-4-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

Good morning Dinar Recaps,

Goldilocks posted some news links and comments:

"US Republicans unveil draft bill for cryptocurrency regulation"

Two US Republican lawmakers revealed a new draft bill on Friday. As you can see in the articles below, there is a challenge before Congress to work up a bill that is more user-friendly for the private sector. 

This new bill includes consumer security and encourages innovation. People are more likely to use and adopt a crypto environment that allows their own unique creativity/spirit to embrace the fullness of its potential.

This bill also includes a path to registering with the SEC for protections and guidance on cryptos use case scenarios without being too controlled at the same time.

This legislative process is pushing for certain crypto coins to be listed as commodities giving real values to their ownership and use.

This is why the new bill has to be done by the June 30th deadline to meet the requirements of SOFR regulations.

The goal is to create a "functional framework" of understanding that includes a standardized process through protocols capable of being processed on the QFS. 

© Goldilocks

AA LINK

Coindesk LINK

CoinGape LINK

Crypto Mode LINK

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What is going to make the new digital asset-based trading system work?

The simple answer is Web 3 internet, and it has a lot of very deep levels and transactions to make it possible. 

There are two very important functions on Web 3 that will decentralize the protocols and make the system work efficiently:

* "Tokenized blockchain protocols, such as layer 1 and layer 2 blockchains; 

* and tokenized smart contract protocols deployed to blockchains." 

For example, Bitcoin cannot scale on the QFS, but Bitcoin Lightning has been created to make it possible. 

And, smart contracts will ensure funds are available on both sides of a trade.

We are going to see a lot of bridge coins creating pathways to many of the cryptos early adopted in the blockchain networks after July 1st. 

At that point, new values will be created on an ongoing basis through an open market system designed to be utilized through an open banking system on a blockchain network called the QFS.

© Goldilocks

JDSupra LINK

FTI Consulting LINK

Web3 LINK

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The New Development Bank in the East is in the process of creating a common currency. 

It will be known as a common unit of payment that will level the playing field in Europe and the US in trade. 

This will enable National Currencies to rise to a value representative of this common unit of payment allowing trade between global nations that would not have otherwise been possible. 

These new demands will increase the value of our Eastern currencies through a platform designed to transfer wealth between nations more securely and more profitably. 

Watch the water.

© Goldilocks

https://tass.com/economy/1625965

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Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Iraqi News Highlights Sunday Afternoon 6-4-23

Iraqi News Highlights Sunday Afternoon 6-4-23

Tlm724 Administrator Bondlady’s Corner

Investment Authority: The Government Focused On Attracting Solid Companies To Implement Strategic Projects

Economy| 04:33 - 04/06/2023  Baghdad - Mawazine News  The National Investment Commission confirmed, today, Sunday, that it is coordinating with government agencies to provide investment opportunities to establish tourist cities and villages in various governorates, and while it has identified important pillars to encourage foreign investment in Iraq, it confirmed that the government focused on attracting solid companies to implement strategic projects.

"Investment Law No. 13 of 2006 did not differentiate between Iraqi, Arab and foreign investments in terms of granting concessions, exemptions and guarantees," Muthanna Al-Ghanimi, a spokesman for the authority, told the official agency, followed by Mawazine News.

He explained, "Raising the confidence of Arab and foreign investors to invest in Iraq depends on many matters and pillars, including the facilities in the aforementioned law, its implementation, and the cooperation of the concerned sectoral authorities with regard to investment, which will reflect positively on the national economy."

He added, "The Iraqi government has focused on attracting solid companies to implement strategic projects in many economic sectors, and has worked to provide investment opportunities with economic returns for the country."

He pointed out, "The percentage of project completion by the implementing operating companies, the higher it will be a point of attraction for the rest of the companies and for several projects, because the successful project affects many economic sectors positively, and also provides space for achieving benefit and employing the workforce."

In a separate context, he explained, "The agreement included in the Arab-Chinese summit, in which Iraq participated, represents a step towards achieving the strategic goals," noting that "the Iraqi government is now in the process of implementing the path of development with a national vision and studied scientific steps, and it is a project whose returns will be clearly reflected on the economy." Iraqi."

And he noted, "According to the information available to us, the development path is in the process of being studied, designed and prepared for strategic investment opportunities."

Regarding tourism projects, he pointed out, "The National Commission for Investment and the investment commissions in the governorates are coordinating with the tourism and archaeological sectoral authorities to provide investment opportunities for the purpose of bringing in companies specialized in establishing tourist cities and villages, to be a point of attraction for local tourists and regional and even international countries," stressing that " Work is underway in Iraqi provinces to be a magnet for tourists."

And he continued, "These procedures depend on the availability of investment opportunities by the Tourism Authority, for the purpose of working on them in coordination with specialized companies." https://www.mawazin.net/Details.aspx?jimare=228362

The General Secretariat announces the inclusion of 65 government agencies in the e-governance project

Political | 03:30 - 04/06/2023  Baghdad - Mawazine News  On Sunday, the General Secretariat of the Council of Ministers announced the results of the e-governance project within a year, while it indicated that 65 government agencies were included in the project.

"The e-governance project is one of the important files included in the ministerial program, and there is a direct interest from the Prime Minister, Muhammad Shia'a al-Sudani, to this issue," said Haider Majeed, a spokesman for the Municipality, in a statement to the official agency, followed by Mawazine News.

He added, "The National Data Center Department continues to automate the programs and services provided by government institutions to citizens, and include them within the Ur electronic portal."

Majeed pointed out that "the Ur electronic portal now contains more than 300 electronic and paper services, as well as canceling the authentication of paper issuances and converting them electronically, as the number of validating electronic issuances issued so far has exceeded one million and 300 thousand documents within a period of one year from the launch of this program, which included 65 One of the official institutions, ministries, commissions and provinces, including the departments of notary writers in Baghdad and the provinces.   https://www.mawazin.net/Details.aspx?jimare=228357

Iraqi Oil Exports To America Decline For The Third Week In A Row

Economy|  04/06/2023  Baghdad - Mawazine News  The US Energy Information Administration announced, on Sunday, that Iraq's oil exports to America decreased for the third week in a row, reaching an average of 114 thousand barrels per day during the past week.

The administration said in a table followed by Mawazine News, that "the average US imports of crude oil during the past week from nine major countries amounted to 6.016 million barrels per day, up by 767 thousand barrels per day from the previous week, which amounted to 5.249 million barrels per day."

She added, "Iraq's oil exports to America amounted to an average of 114 thousand barrels per day last week, decreasing by 22 thousand barrels as a daily average from the previous week, in which oil exports to America reached an average of 136 thousand barrels per day."

She pointed out that "most of America's oil revenues during the past week came from Canada at a rate of 3.589 million barrels per day, followed by Mexico at an average of 913 thousand barrels per day, and oil revenues from Saudi Arabia amounted to an average of 534 thousand barrels per day, and then Colombia at a rate of 286 thousand barrels per day."

According to the administration, “the amount of US imports of crude oil from Ecuador amounted to an average of 214,000 barrels per day, from Brazil at a rate of 182,000 barrels per day, from Nigeria at a rate of 98,000 barrels per day, and from Libya at a rate of 86,000 barrels per day, while it did not import any amount of oil.” Russia".    https://www.mawazin.net/Details.aspx?jimare=228332

Central Bank Sales Rise To More Than 255 Million Dollars

Economy| 04/06/2023   Baghdad - Mawazine News  The Central Bank of Iraq sold, on Sunday, a currency auction, more than 225 million dollars.

And the currency sale window showed in a table followed by / Mawazine News /, that "the total amounts of transfers abroad (remittances, credits) amounted to 184,060,577 million dollars."

While "the total amounts of cash sales amounted to 41,900,000 million dollars, and the total sales amounted to 225,960,577 million dollars."   https://www.mawazin.net/Details.aspx?jimare=228336

Former Parliamentarian: International Monetary Fund Reports On The Iraqi Economy Are Unrealistic

Money  and business  Economy News – Baghdad  The former Parliamentary Finance Committee rapporteur, Ahmed Al-Saffar, described most of the International Monetary Fund's reports on the Iraqi economy as "unrealistic", while considering the quality of the country's economy as "fragile".

Al-Saffar said, in an interview with the Iraqi Information Agency, which was seen by "Al-Iqtisad News", that "most of the International Monetary Fund's reports on the Iraqi economy are unrealistic," adding: "The figures that the International Monetary Fund report spoke about regarding the recovery of the Iraqi economy and its achievement of a growth rate of nearly 4 percent." - 5%, and the gross domestic product continues to increase, and these numbers are unrealistic.

He added, "Iraq does not have a real domestic product. Rather, the country's output is calculated on oil revenues, given that the Iraqi economy is rentier, meaning that we produce and export oil, and we obtain oil revenues in dollars and import the needs of the Iraqi society with it."

The former member of the Finance Committee explained, "This kind of economy is fragile and exposed to crises, and at any moment the oil sector is exposed to a shock," pointing out that "the issuance of these reports is unrealistic, because it does not rely on real data."  Views 83  Added 06/04/2023 - https://economy-news.net/content.php?id=34569  

The Stock Market Closed Higher By 2.71%.

Market  Economy News – Baghdad  The Iraqi Stock Exchange closed in the first session at the beginning of the week, up by 2.71%.

The session dealt with the shares of 26 companies, as the number of shares traded reached 2 billion shares, worth 5 billion dinars.

The shares of Al-Mamoura real estate companies increased by 10%, Al Mansour Hotels by 5.38%, the Bank of Baghdad by 4.78%, and Baghdad invasive by 2.5%, while the Ishtar hotel companies lost by 5.5%.   Views 90  Added 06/04/2023 - https://economy-news.net/content.php?id=34564

Parliamentarian: Disagreements Over The Delivery Of Kurdistan's Oil Are Still Going On

Iraqi Dinar   Money  and business  Member of Parliament, Adnan Al-Juhaishi, confirmed, on Sunday, the continuation of disputes over Articles 13 and 14 related to the delivery of Kurdistan region's oil.

Al-Juhaishi said, "The paragraph related to the saved Kurdistan employees' money, an agreement was reached on it, leaving only technical differences that can be overcome as soon as possible," noting that "the dispute is currently about Articles 13 and 14 related to the delivery of oil to the federal government."

He pointed out that "those differences" need joint dialogues with all parties in order to culminate in the approval of the final vote and the general budget law, and we hope that this will happen within the next two days.   Views 83   Added 06/04/2023 - https://economy-news.net/content.php?id=34568

The High Exchange Rates Of The Dollar In Baghdad With The Closing Of The Stock Exchange

Economy  Sunday, June 4, 2023 4:14 PM   Baghdad / The National News Center  The exchange rates of the US dollar against the Iraqi dinar rose today, Sunday, on the main stock exchange in the capital, Baghdad.

The correspondent of the National News Center said, “The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded an exchange rate of 147,600 dinars, compared to 100 dollars, while the prices this morning were 147,000 dinars.”

He added, "The buying and selling prices rose in the exchange shops in the local markets in Baghdad, where the selling price reached 148,000 dinars, while the purchase prices amounted to 1,467,000 dinars per 100 dollars."    https://nnciraq.com/209275/

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

"Tidbits From TNT" Sunday 6-4-2023

TNT:

Tishwash:  Parliamentary source: The House of Representatives will hold a session on Tuesday to vote on the budget

A parliamentary source said that the House of Representatives will set today the date for the voting session on the draft financial budget law.

The source told {Euphrates News} that "the parliament presidency will determine, after about two hours, the holding of the voting session on the budget next Tuesday at exactly one o'clock in the afternoon."

Informed sources reported to Al-Furat yesterday that the coordination framework and the State Administration Coalition agreed to pass the draft financial budget law in the middle of this week.  link

CandyKisses:  Central Bank of Iraq expands electronic payment operations

Baghdad - Iraq Today:

The Central Bank of Iraq confirmed that great efforts have been made to accelerate the pace of using and circulating electronic payment, while pointing to the conclusion of contracts to adopt payment tools in financial transactions.

Deputy Governor of the Central Bank, Ammar Khalaf, said in a statement to the official agency that "there are great efforts by the Central Bank in cooperation with banks and electronic payment companies to accelerate the pace of use of electronic payment tools in the Iraqi economy."

Khalaf added that "there are ministries that have now gradually begun to enter the electronic payment project," noting that "the project needs systems before launching the collection or electronic collection process, and there is a need for proactive arrangements of electronic systems and infrastructure."

He pointed out that "there are many contracts made by collection institutions, especially the government, to adopt electronic payment in financial transactions," adding: "We believe by the end of this year, there will be a noticeable change and an increase in the number of payment machines and the demand of citizens to use them, and we have instructions that guarantee the rights and obligations of all parties dealing in the subject of electronic payment."

On the first of June, the electronic payment process was launched in government institutions and the private sector.

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CandyKisses:  Parliamentary Finance expects to settle budget differences between Baghdad and Erbil through "compromise" solutions

Shafaq News / A member of the Parliamentary Finance Committee, Mueen Al-Kazemi, expected on Saturday to settle the existing differences over the general budget with the Kurdistan Democratic Party with "compromise" solutions that satisfy Baghdad and Erbil.

Al-Kazemi told Shafaq News Agency that the negotiator of the coordination framework reached a consensus with the Democratic Party on the constitutional mechanism for exporting oil from the region.

He added that "dialogues are currently continuing between the two parties regarding Article 14, which consists of 12 paragraphs, 6 of which are agreed upon within the government text, and 6 other paragraphs are being discussed because the region considers it interference in its affairs."

Al-Kazemi also pointed out that "discussions are underway regarding the management of border crossings between the federal government and the region, and preventing the extraction of oil from the fields of Nineveh and Kirkuk by Kurdistan."

The member of the parliamentary finance pointed out that matters and differences will reach compromise solutions during the next week, warning that the Finance Committee will make amendments to the budget, complete the schedule of transfers and refer them to Parliament for a vote.

Economist Nabil al-Marsoumi shouted on Tuesday, May 31, that the coordination framework that includes the ruling Shiite political forces in the country submitted a new proposal on paragraphs 13 and 14 in the budget for the Kurdistan Region.

In a post on social networking sites "Facebook", the decree quoted private sources as the proposal.

According to the proposal, the Kurdistan Region would deliver 400,<> barrels of oil per day to the National Oil Marketing Company (SOMO), and coordinate the sale of crude with this company as well.

The sources said that in the event that oil cannot be exported through Turkey's ports, Erbil delivers oil to Baghdad, and the Ministry of Oil, in turn, finds alternatives to sell Kurdistan oil or use it internally.

The sources pointed out that the federal government is committed to paying the money of 400,<> barrels of oil sale to Erbil if received from the region, provided that the money for oil sales and recycling internally is placed in an account belonging to the Federal Ministry of Finance.

It is noteworthy that the presidency and the Kurdistan Regional Government have recently objected to amendments to the paragraphs related to the region in the financial budget that the Iraqi Council of Representatives seeks to approve, describing them as contrary to the laws, the constitution and the agreements concluded between Erbil and Baghdad, which resulted in the formation of the current federal government headed by Muhammad Shia Al-Sudani.

The President of the Kurdistan Region, Nechirvan Barzani, has expressed "deep concern", which he called the changes that affected the paragraphs of the draft Iraqi budget law related to the constitutional rights of the Kurdistan Region, and said that he rejects them "completely."

Before that, the President of the Kurdistan Regional Government, Masrour Barzani, said that "a group in the Finance Committee of the Iraqi Council of Representatives made changes to the draft federal budget, violating a prior agreement we concluded with His Excellency Prime Minister Muhammad Shia Al-Sudani and his government," noting that "the agreement, which is the cornerstone of cooperation between Erbil and Baghdad, and everyone must respect its terms."

The Parliamentary Finance Committee recently voted to oblige the Kurdistan Region to pay 10% of the salaries deducted monthly to its employees, including the budget amendments being discussed.

A member of the parliamentary finance committee, Mustafa Sanad, also confirmed the committee's vote to amend paragraphs related to the region in the budget law, related to the delivery of oil, while pointing to the withdrawal of deputies of the Democratic Party bloc from the meeting.

On March 13, the Iraqi Council of Ministers approved the largest financial budget in the country's history, which exceeded 197 trillion and 828 billion Iraqi dinars (about 152.2 billion dollars), with a total deficit of 63 trillion Iraqi dinars, taking advantage of the high oil prices globally, which constitutes more than 95% of the country's financial revenues, amid objections from financial and legal experts about the budget items, but they have not taken their way to approval so far due to differences.

Mot:  ... Hot Game it Was!! ~~~~

Mot:  ... Amazing - Simply Amazing!! ~~

Sunday Morning Iraq Economic News Highlights 6-4-23

Sunday Morning Iraq Economic News Highlights 6-4-23

The House Of Representatives Holds A Session On Tuesday To Vote On The Budget

June 4, 2023   Baghdad / Obelisk Al-Hadath: A parliamentary source stated that the House of Representatives will set today the date for the voting session on the draft financial budget law.

The source said, "The parliament presidency will determine, after about two hours, the holding of the voting session on the budget next Tuesday at exactly one o'clock in the afternoon."

Informed sources reported that the coordination framework and the State Administration Coalition agreed to pass the draft financial budget law in the middle of this week.  https://almasalah.com/archives/54795

Independent Deputy For / Nina /: The Budget Will Be Approved Within Days, Despite The Democratic Party's Disagreement With Most Of The Amendments That Were Made To It

Sunday 04, June 2023  Economical Number of readings: 461  Baghdad / NINA / - Independent MP Kazem Al-Fayyad confirmed: The budget was submitted to the Presidency, pending the determination of the voting session, which will be within days.

He told the National Iraqi News Agency / NINA /: The majority of deputies approved it after making several amendments to it, most of which did not obtain the approval of the Kurdistan Democratic Party.

Al-Fayyad added: The budget will be passed by majority vote.

And the Parliamentary Finance Committee announced that it had completed the draft state budget law for the current year and the next two years and submitted it to the Presidency of Parliament to determine the voting session./  https://ninanews-com.translate.goog/Website/News/Details?Key=1057515&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

 A legal expert explains the extent of the powers of the Finance Committee and its procedures regarding the region 

Information / Baghdad...  The legal expert, Ali Al-Tamimi, explained the powers of the Parliamentary Finance Committee and its procedures regarding the federal budget, the region, transfers, and the increase or decrease in expenditures.

Al-Tamimi told / information /, that "the Finance Committee has the right to transfer between the chapters of exchange in the budget, and it is not entitled to increase expenditures, i.e. it has the right to organize exchange operations and change them in a manner that is within the limits of what is specified by the Ministry of Finance and the Council of Ministers."

He added, "What the Finance Committee did to oblige the Kurdistan region to export oil through the SOMO company and not to pay the region its share of the money beyond that, is a procedure consistent with Federal Court decision 59 of 2012, which obligated the region to export through the aforementioned company."

And he indicated that "the decisions of the Federal Supreme Court are final and binding on all authorities, and determining the bank in which the export revenues are deposited is also related to regulatory matters, since the Rafidain Bank is governmental, so it is preferable to place oil imports in it."

And he stressed that "the Finance Committee's procedure agrees with Articles 93 of the House of Representatives' internal system, Article 62 of the Constitution, and the decision of the Federal Supreme Court 59 above, and the matter after that is decided by a vote by Parliament when these amendments are presented for a vote of acceptance or whether or not to keep the version of the amendment." LINK

There Is No Room For Development By Relying On The World Bank

June 4, 2023  Baghdad / Obelisk event:  Peace be upon you 

The Sudanese government has remained silent about US President Joe Biden's decision to extend the state of emergency in Iraq, which was issued about two weeks ago. Until now, the government, the legislative authority, and even the resistance factions are hiding behind walls of silence. The media and communication platforms do not raise this most important sovereign issue for those familiar with politics and economics.

On the other hand, we notice a meaningless debate about the (development) that will be launched after the vote on the federal budget, which is scheduled to be for a period of three years, and it is an explosive budget, as it is described, in terms of the amount of money that will be spent, but it is also explosive in terms of The huge deficit that it entails, and it is incomprehensible why a large expenditure is allocated that results in a large deficit?!, unless the goal is to carry out a legitimate withdrawal of all the money in the state’s accounts.

This is the 20th time that the (executive order) No. (13303) related to Iraq, which was signed by President George W. Bush after the occupation in 2003, has been renewed. It grants supernatural powers that allow the head of the White House to bypass the controls of US legislation, in order to protect American interests and security. National, a case available in Washington since 1977.

Under the cover of this (executive order), the assassination of the leaders of Al-Nasr was carried out, which took place at Baghdad Airport in early 2020 under the direction of former US President Donald Trump, which is the same thing that allows any US president to carry out whatever he wants inside Iraqi territory.

Perhaps the missions of the US military bases currently in Iraq are linked to duties related to this matter, which is what makes Iraq on the level of Syria on the list of US classifications, given that Syria is also under the provisions of another executive order.

In the media, the (executive order) is called (the declaration of a state of emergency), which is a meaning that has political and economic significance that makes the country in which it is declared a country on the list of anxious and insecure countries, which means a country that is not attractive to investments or trade exchanges, which is what created a bad reputation. For Iraq in front of global companies and capital.

Therefore, American companies avoid working in Iraq, including avoiding working in the most profitable sectors, such as the energy and oil sectors, and this becomes more evident when we see that the American Exxon Mobil Company sells its contracts, more than once, to Chinese and Russian companies.

There are no US investments in Iraq or even commercial exchange except within the limits of (stock goods), and they appear in the form of used machinery and equipment, including cars that are out of service due to accidents, with the exception of the recent opening of a single branch of the (KFC) restaurant chain in one of the richest neighborhoods of the capital.

Baghdad, with the fact that this restaurant is one of the worst types of restaurants in the world, and it is the cheapest, and it is considered one of the popular restaurants that spread exclusively in the black and immigrant neighborhoods.

The US ambassador to Baghdad herself sought to open a Kentucky branch in Al-Jadriya, which is an attempt by her to achieve a commercial achievement on the ground that may be recorded as a success for her during her diplomatic work.

Perhaps the US ambassador does not understand, or is ignorant of, the effects of what the administration is doing in Washington when it renews every year the state of emergency, which leads to Iraq remaining in the category of dangerous countries, and which makes the smallest US banks avoid granting investment guarantees for investment and work opportunities in Iraq.

In such ambiguous circumstances, the Sudanese government believes that it can lure the World Bank to finance the development path project that it called for recently, and these perceptions are very naive, because the World Bank will not enter a single dollar into countries included in the US emergency list.

https://almasalah.com/archives/54719

Today's Newspapers Are Following The Budget And The Government's Measures To Deal With Water Scarcity And The Electricity Crisis

Sunday 04, June 2023 Journalism Number of readings: 272   Baghdad / NINA / - The newspapers issued today, Sunday, followed the budget and the government's measures to confront water scarcity and the electricity crisis.

On the budget, Al-Sabah newspaper said: “Between an optimist and a pessimist, the statements of politicians and members of parliament regarding the budget file came amid expectations of a very close breakthrough for the file by proposing solutions described as “moderation” to resolve the existing differences between the region and the federal government, especially regarding Article (14) of the related budget.The newspaper quoted a member of the Parliamentary Finance Committee, Mueen Al-Kazemi ,

as saying: “The coordination framework negotiator reached an agreement with the Democratic Party on the constitutional mechanism for exporting oil from the region.”

He continued by saying, "Dialogues are currently ongoing between the two parties regarding Article 14 of the budget, which consists of 12 paragraphs, 6 of which are agreed upon within the government text, and 6 other paragraphs are being discussed because the region considers them interference in its affairs.”

He pointed out that "negotiations are underway regarding the management of border crossings between the federal government and the region, and preventing the extraction of oil from the Nineveh and Kirkuk fields by Kurdistan."

The member of Parliamentary Finance pointed out that matters and disagreements will reach "middle solutions" during the next week, warning that the Finance Committee will make amendments to the budget, complete the transfers schedule, and refer it to Parliament for a vote on it.

Meanwhile, a member of the Parliamentary Finance Committee, Jamal Cougar, said, “The government will face a major deficit problem during the next year, because oil prices may trend downward, on the one hand, and on the other hand, the government has 23 trillion dinars rounded up from last year, and the surplus will be withdrawn during the current year.”

He added, "It is expected that next year's budget will be for salaries only in the presence of the same deficit," noting that "the operational budget alone has reached 140 trillion dinars, in contrast, the state's resources are 134 trillion dinars, which is not even sufficient for the operational budget," expressing his hope that "Oil prices remain high to save the budget and the country.

Al-Atbi said, "The delay in resolving the 2023 budget does not serve any political party in light of the various economic and security challenges in the Iraqi scene in general, which necessitate options that push the budget forward without any disagreements."

He added, "The coordination framework, in its expanded meeting a few days ago, presented a comprehensive vision of solutions to proceed with the 2023 budget for the Kurdish brothers, including the Democratic Party," expecting that "they will have a response in a meeting during the coming hours.”

He pointed out that "the discussions of the last days were positive in some of their items, and (the framework) supports the principle of political consensus to proceed with the budget," stressing that "the transfer of the budget at the end of this week from the Finance Committee to the House of Representatives for voting is very likely.”

For his part, the leader of the Fatah Alliance parliamentary bloc, Muhammad Karim, said: “The forces of the state administration have given a final opportunity for the talks to reach a solution regarding the Kurdistan region, as the negotiations should not exceed the next. two days."

He pointed out that "the majority of the state administration forces and other political forces took the decision to proceed with voting on the draft federal budget law, whether negotiations reached a solution or not, due to street pressure."

 Al-Zawraa newspaper, which is published by the Journalists Syndicate, followed the government's measures to confront water scarcity and said that the Ministry of Water Resources revealed about its plans to face water scarcity this summer, while indicating that it is continuing to communicate with the upstream countries for the purpose of ensuring fair expenditures for Iraq, they confirmed that “water storage in Iraqi dams and lakes is down by 40% from the minimum storage achieved in previous years.

The newspaper quoted the official spokesman for the ministry, Khaled Shamal, as saying that there are three things that fall within the ministry's plan to confront a water scarcity in the summer, the first of which is managing water storage in the best way to secure the necessary needs for the summer season, i. Next.

He added, "The second matter is to reduce the abuses of water projects and quotas," pointing out that "the ministry has launched a campaign with the support of the Ministry of Agriculture and Electricity and all security agencies to fill in the exceeded fish lakes." .”

He continued, "The third issue is to communicate with the source countries for the purpose of ensuring fair expenditures for Iraq during the coming period, which would overcome the scarcity crisis in the country."

He revealed that «the ministry has plans that it aspires to implement, especially when approving the budget for land reclamation, lining canals, dredging rivers, transporting water through pipelines, dams, water harvesting and other projects concerned with rationalizing water uses and developing the water sector».

Al-Zaman newspaper followed the electricity crisis and said that the Ministry of Electricity will officially launch, next week, the electrical connection with the Gulf countries.

A source said

The ministry's spokesman, Ahmed Musa, said in a statement yesterday that "the connection with Jordan will be entered into service at the beginning of July as a first stage, with a capacity of 50 megawatts, reaching the district of Rutba in Anbar Governorate to feed the national network), indicating that (the connection required the construction of an existing Rutba line, part of which passes through Iraq and the other part through Jordan, in addition to the weather and soil conditions And some things led to a delay in its activation .”

Moussa explained that “the connection with Turkey is ready, with the exception of determining the price of the service, to enter into force as a first stage. As for the connection with the Gulf, it will be ready during the coming period.” Referring to (the signing of five contracts on the Gulf interconnection, which takes about a year to activate),

He added that (Iraq agreed with Saudi Arabia, during the last visit, to expand the Arar and Yusufiyah stations, according to a contract between the two sides), stressing that (the first stage will be 1,000 megawatts, Via anchor point delimiters and line paths (soon to be completed).

The ministry operated the transformative sports city station in Basra Governorate.

Yesterday's statement said, "The staff has dealt with the network problems and the shortage in energy, in response to the people of the province, in addition to operating the substation, which will contribute to resolving the electricity crisis in the Qibla areas, residential complexes , and the neighborhoods of the center of Basra.” And improve network power and unload loads). To receive

https://ninanews-com.translate.goog/Website/News/Details?Key=1057528&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Iraqi News Highlights Saturday Evening 6-3-23

Iraqi News Highlights Saturday Evening 6-3-23

Tlm724 Administrator Bondlady’s Corner

International Monetary Fund: The Central Bank Of Iraq Has Made Progress In Combating Money Laundering

Economy News – Baghdad  The International Monetary Fund praised the progress made by the Central Bank of Iraq in combating money laundering and terrorist financing.

"The IMF mission welcomes the progress made by the Central Bank of Iraq in the field of improving cash management, anti-money laundering and counter-terrorism financing frameworks," the fund said in a press statement, posted on its website and viewed by Al-Iqtisad News.

The fund confirmed that the mission stresses the importance of close coordination between the positions of monetary and public financial policies in managing the Iraqi economy.

Views 306   06/03/2023 - https://economy-news.net/content.php?id=34537

The Central Bank: Efforts To Accelerate The Use Of Electronic Payment And Its Dissemination

Economy| 08:20 - 03/06/2023  Baghdad - Mawazine News  Today, Saturday, the Central Bank of Iraq confirmed that it has made great efforts to accelerate the use of electronic payment and its circulation, while indicating the conclusion of contracts to adopt payment tools in financial transactions.

The Deputy Governor of the Central Bank, Ammar Khalaf, told the official agency, followed by Mawazine News, that "there are great efforts by the Central Bank, in cooperation with banks and electronic payment companies, to accelerate the use of electronic payment tools in the Iraqi economy."

Khalaf added, "There are ministries that have started, now and gradually, to enter into the electronic payment project," noting that "the project needs systems before launching the electronic collection or collection process, and there is a need for proactive arrangements of electronic systems and infrastructure."

He pointed out, "There are many contracts made by collection institutions, especially governmental ones, to adopt electronic payment in financial transactions," adding, "We believe that by the end of this year, there will be a noticeable change and an increase in the number of payment devices and the willingness of citizens to use them. We have instructions that guarantee the rights and obligations of all parties involved in the matter of electronic payment.

On the first of this June, the electronic payment process was launched in government institutions and the private sector. Ended 29 / m99   https://www.mawazin.net/Details.aspx?jimare=228313

The Central Bank Of Iraq Organizes A Workshop For Banking And Financial Institutions

June 01, 2023  The Central Bank of Iraq, in coordination with the Anti-Money Laundering and Terrorism Office, organized a workshop for banking and non-banking financial institutions.

The workshop dealt with the

participation of the results and the

measurement of the threats and risks surrounding the financial sector, with the

direction of monitoring the necessary treatments 

in order to alleviate their risks.

 It is noteworthy that the establishment of this workshop was a continuation of the plan to publish the results of the national evaluation of the dangers surrounding this vital sector.

The Central Bank of Iraq   information Office  1 - June – 2023  https://cbi.iq/news/view/2349

Al-Sudani Invites Italian Companies To Invest In Iraq

Economy| 06:27 - 03/06/2023  Baghdad - Mawazine News, Prime Minister Muhammad Shia' al-Sudani called today, Saturday, Italian companies to invest in Iraq, stressing that the government has provided an appropriate investment environment.

The media office of the Prime Minister said in a statement, a copy of which Mawazine News received, that "Al-Sudani received, today, Saturday, the Italian ambassador to Iraq, Maurizio Cricanti, to discuss bilateral relations between the two countries, and the importance of enhancing mutual cooperation in the field of economy and investment and ways to develop it."

The statement added, "The meeting witnessed the discussion of Iraq's largest project represented by the development road, and the projects of the port of Faw, the industrial city, and the residential city."

Al-Sudani called, according to the statement, "Italian companies to invest in Iraq, which is witnessing a wide investment movement, and the housing sector will have a large share in it, stressing that the government has provided an appropriate investment environment through which it seeks to reach a state of economic integration with brotherly and friendly countries."

For his part, Kricanti conveyed the Italian Prime Minister's greetings to Al-Sudani, and renewed her invitation to his Excellency to visit the Italian capital, Rome, "stressing the importance of developing cooperation relations between the two friendly countries, in a way that contributes to promoting the interests of their peoples."  https://www.mawazin.net/Details.aspx?jimare=228307

Before The OPEC Meeting.. Iraq Meets With Three Countries In Vienna

Economy| 02:55 - 03/06/2023  Baghdad - Mawazine News, Saudi Energy Minister Prince Abdulaziz bin Salman met in Vienna with his counterparts from the UAE, Kuwait and Iraq, prior to the meeting of the Organization of Petroleum Exporting Countries (OPEC).

And the "Tass" correspondent stated that the Saudi minister is staying at the Park Hyatt Hotel in the Austrian capital.

UAE Energy Minister Suhail Al Mazrouei, Iraqi Oil Minister Hayan Abdul Ghani, Kuwaiti Oil Minister Badr Al Mulla and Algerian Energy Minister Mohamed Arkab arrived there this morning, ahead of the OPEC meeting scheduled for 13:00 Moscow time.

The OPEC meeting that takes place every six months has not started yet. It has been postponed pending the Saudi and Emirati energy ministers. As for the rest of the ministers of the member states of the Organization, they arrived at the OPEC Secretariat building.

This meeting takes place on the eve of the OPEC+ ministerial meeting, which will also be held in the personal presence of ministers in Vienna.

A source in one of the delegations told the "Tass" correspondent that OPEC + countries are studying various options for action on oil production standards at the June 4 meeting, including production cuts. Ended 29 /   https://www.mawazin.net/Details.aspx?jimare=228287

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Iraqi News Highlights Saturday Afternoon 6-3-23

Iraqi News Highlights Saturday Afternoon 6-3-23

Tlm724 Administrator Bondlady’s Corner

A Government Advisor Expects The Budget To Be Approved On This Date

Economy| 06:32 - 03/06/2023  Baghdad - Mawazine News , the political advisor to the Prime Minister, Fadi Al-Shammari, expected today, Saturday, the date for voting on the 2023 draft budget in the House of Representatives, and while he clarified its most important adoptions, he pointed out that Iraq seeks to be a point of regional and international balance and an essential element in the stability of the Middle East region.

Al-Shammari said, "It is hoped that a vote on the financial budget will take place in less than ten days, and the disagreement regarding the articles pertaining to the region must remain within its technical framework and not be turned into a political dispute."

And he added, speaking of the budget adoptions, "I say with a decisive tooth that the 2023 budget is the first budget that will do justice to the central and southern governorates, and when approved, these governorates will turn into a large workshop and launch major projects that have not been seen in 50 years."

He stressed, "The government is keen to do justice to the central and southern governorates, remove injustice from them, and rebuild the liberated cities, and included in the budget the construction of 10 new hospitals to serve the people of the districts and sub-districts, most of which are in the central and southern governorates."

He pointed out, "The prime minister carries out his duties from 7 am, without interruption, sometimes until after midnight, with work continuing even on Friday, and he is not looking for self-victory or individual success, but rather he wants everyone's success."

And he continued, speaking about the development path project, that "the government seeks to include Iraq in the classification of developing countries that attract investment, and the development project will be accompanied by the construction of the largest industrial city in the Middle East near Al-Faw city, which will attract major international companies."  confirmed, that

He added, "Iraq was the focal point of the Saudi-Iranian agreement that was announced in Beijing, and opened its doors to China and the world to contribute to the reconstruction of Iraq and invest in it," stressing, "The Iraqi government's vision and strategy is to work to liberate the region and the Middle East in general from a state of dependence." For the axes that the region has lived through since World War II.”   https://www.mawazin.net/Details.aspx?jimare=228308

The International Monetary Fund Praises The Policies Of The Central Bank In Supporting The National Economy

Sameer Al-Nusairi   In light of the periodic review meetings of the International Monetary Fund experts who met with Iraq in Jordan in the last week of last May to discuss with the Iraqi side about recent economic developments and expectations as well as plans for fiscal and monetary policy in the coming period, and from an analysis of what was contained in the statement issued by the Fund,

which refers to A slowdown in the growth of the Iraqi economy in recent months, after recovering to a level before the Corona pandemic last year, at the level of oil production and export, the main source of revenue, in addition to fluctuations in the foreign exchange market in the wake of tightening control over combating money laundering and terrorist financing by the Central Bank of Iraq. .

In addition, estimates of real non-oil GDP may have contracted by 9% (on an annual basis) in the last quarter of 2022, and expectations of the effects of a non-rise in oil prices in the event that they do not reach the price of $96 per barrel, which is the price required to achieve balance (zero deficit).

In public finances, and to overcome the deficit in the 2023 budget, it will lead to Iraq and its investment plans entering the circle of embarrassment and risk, and will confuse the government’s economic reform programs. The planned budget deficit is expected to rise to more than 40% of GDP in 2023 when oil prices drop to $70 a barrel.

In addition, the delay in the issuance and approval of the 2023 budget after 5 months have passed since the current year. Certainly, the current economic situation, by relying heavily on oil and not drawing the required policies to activate non-oil productive sectors, will keep the Iraqi economy under an annual inflation rate of not less than 5.6% in

In the best case, the general level of prices will continue within limits that are difficult to control, but despite the pessimistic view of the statement, the fund experts clearly indicated the progress made by the Central Bank in improving liquidity management and frameworks for combating money laundering and terrorist financing and its sound procedures in close alignment with the position of policies Financial and monetary management of the economy, and this confirms that the policies and initiatives that the Central Bank plans to launch within its next strategy will contribute significantly to overcoming failures and repercussions, supporting the national economy and enabling the government to implement its economic reform program.

And that the arrival of the foreign cash reserves of the Central Bank to the limits of 110 billion dollars, with the efforts made to maintain the continued stability of the currency exchange market, will contribute to reducing the inflation rate and maintaining a balanced level of prices. Online payment

In banking and commercial dealings, he will support the government's plans for the desired economic reform.    Views 152  06/03/2023 - https://economy-news.net/content.php?id=34539

More Than One Billion And 270 Million Dollars... The Sales Of The Central Bank Of Iraq During The Past Week

Saturday 03, June 2023 13:34 | Economical Number of readings: 685   Baghdad / NINA / - The Central Bank of Iraq's total sales of hard currency to dollars during the past week amounted to more than one billion and 270 million dollars.

And the Central Bank stated in a statement that, during the past week, during the five days in which the auction was opened, it sold one billion and 270 million and 511 thousand and 571 dollars, at a daily rate of 254 million, 102 thousand and 314 dollars, down by 3.6% from what was recorded in the previous week, which reached a daily average. 263 million 581 thousand and 896 dollars.”

He added, “The highest dollar sales during the past week were on Tuesday, when sales reached 267 million 83 thousand and 785 dollars, while the lowest sales were on Thursday with 240 million 525 thousand and 519 dollars.”

He pointed out that "sales of foreign remittances amounted during the past week to one billion and 54 million and 561 thousand and 571 dollars, an increase of 79% compared to cash sales, which amounted to 215 million and 915 thousand dollars."

He explained, "The sales went in the form of cash and transfers abroad to finance foreign trade, while the price of selling amounts of documentary credits and international settlements for electronic cards amounted to 1305 dinars per dollar, while the price of selling amounts of remittances abroad and the price of cash sales amounted to 1310 dinars per dollar."/

https://ninanews.com/Website/News/Details?key=1057434

Finance: Starting to implement the unified treasury account during the current month, to represent a quantum leap in the management of public funds

Saturday 03, June 2023 16:45 | Economical Number of readings: 682   Baghdad / NINA / - Minister of Finance, Taif Sami, directed the Accounting Department of the State's Financial Resources Department to start implementing the unified treasury account during the current month, to represent a quantum leap in the management of public money.

And the Ministry of Finance stated in a statement, "The department worked regularly to finance the salaries of the public sector for the month of May 2023, in addition to the department paying all the dues of market farmers for the 2023 season of wheat and rapeseed, and funding the Ministry of Electricity for paying the wages of the local investor."

She added, "In the field of supervising the financial matters carried out by all accounting units in the ministries and departments through the development of internal control systems in them, including the pre- and post-disbursement control, the department has initiated during the current month audit operations that included several bodies, including the customs and tax authorities, in addition to Civil Aviation Authority./    https://ninanews.com/Website/News/Details?key=1057462

The High Exchange Rate Of The Dollar In Iraq

Economy|  03/06/2023   Baghdad - Mawazine News  The exchange rates of the dollar recorded, on Saturday, a slight increase in the local markets in Iraq.

And the sale of 100 dollars was recorded for 148 thousand dinars, and the purchase price was 146 thousand dinars for every 100 dollars. https://www.mawazin.net/Details.aspx?jimare=228271

The Central Bank Clarifies Its Procedures Regarding The Shift Towards Electronic Payment

Information / Baghdad...  Today, Saturday, the Central Bank of Iraq confirmed that great efforts have been made to accelerate the use of electronic payment and its circulation, while

indicating the conclusion of contracts to adopt payment tools in financial transactions.

The Deputy Governor of the Central Bank, Ammar Khalaf, said to the official agency and his follow-up / information /, that

"there are great efforts by the Central Bank in cooperation with banks and electronic payment companies; to accelerate the use of electronic payment tools in the Iraqi economy."  Khalaf added,

"There are ministries that have started, now and gradually, to enter into the electronic payment project," noting that

"the project needs systems before launching the electronic collection or collection process, and

there is a need for proactive arrangements of electronic systems and infrastructure."  

He pointed out,  "There are many contracts made by collection institutions, especially governmental ones, to adopt electronic payment in financial transactions," adding,

"We believe that by the end of this year, there will be a noticeable change and increase in the number of payment devices and the willingness of citizens to use them.

We have instructions that guarantee the rights and obligations of all parties involved in the matter of electronic payment.

On the first of June, the electronic payment process was launched in government institutions and the private sector. 

https://almaalomah.me/news/local/البنك-المركزي-يوضح-اجراءاته-بشأن-التحول-نحو-الدفع-الالكتروني

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Awake-In-3D: Part 1 Project Hammer: Insider Trading Platforms Using Off-Ledger WW2 Gold

Awake-In-3D

Part 1 Project Hammer: Insider Trading Platforms Using Off-Ledger WW2 Gold

On June 3, 2023  By Awake-In-3D

Our GCR Land “intel” today is littered with current speculations, built on previous speculations, built on historical legends, propagated by internet rumors. First of all, I BELIEVE in Our GCR as do all of you. However, as the years wane on, it’s difficult to hear the same GCR Intel information repeatedly. I want more.

This is why I’ve spent over a decade tracking down terabytes of information and rabbit holes searching for the truth as best I can. This type of credible information provides a satisfying and deep sense of reality around Our GCR.

Project Hammer, a highly secretive banking practice that operated from 1988 to 1992. Unveiling a web of illicitly repatriated gold stolen during World War II, this article delves into how banks and individuals profited from using this ill-gotten gold to establish shadow trading programs. These programs generated immense profits, which were then funneled into private trading accounts and covert projects.

In the images shown below, you will see phrases like “Tranches with Rolls” related to accounts with staggering amounts of cash balances. Secret numbered Trading accounts/platforms with cryptic code names linked to Trusts and Foundations. These are phrases commonly used in GCR asset agreements today.

The bank names are familiar (although some have been merged and names changed since the late 1980’s). The banking locations are the same as with today’s hubs of GCR activity such as Zurich, Singapore, London and Miami. Interesting parallel and likely not a coincidence.

The WW2 gold, estimated to be well over 100,000 metric tons, was later discovered primarily in the Philippians, but also Cambodia, Indonesia and Laos. The gold was then hoarded primarily by President Ferdinand Marcos who was eventually forced to sell portions of the gold to international Banksters and corrupt financiers in the early 1980’s. But this is a story for another time.

Source Material

The information that follows is based on my extensive research into the lost gold of WW2 which led me to the incredibly detailed and exhaustively mind-numbing body of work from Mr. David Guyatt in the UK.

So I am giving credit where credit is due.

David Guyatt is a former investment banker with a career spanning twenty-eight years in the City of London. He held the position of Associate Director & Treasurer of the Forfaiting division in a major international bank. He later transitioned into a career as a writer and researcher, focusing on a wide range of subjects.

In the early 2000’s, with his insider knowledge of international financing, David engaged extensively in researching the story of gold and other treasures looted by the Axis powers [the Germany, Japan and Italy alliance] during World War II and what happened to these vast riches.

Project Hammer

Project Hammer was a highly secretive banking practice that utilized illicitly repatriated gold from World War II to generate unimaginable and unaccountable fund profits. This article explores how banks and individuals profited from these shadow trading programs, ultimately funding secretive off-book projects. Unveiling the names associated with this illicit activity, we delve into the diversion of funds by major banks at the time.

The Veil of Secrecy Unveiled

Project Hammer, a series of collateral trading programs, emerged in 1988 as a covert banking practice shrouded in secrecy. Hammer replaced a previous Project named Jacobe which operated for years earlier. These programs were designed to generate vast amounts of unaccountable funds for specific projects.

Project Hammer was a secretive program involving vast sums of money, potentially reaching trillions of dollars, held in dormant and orphaned bank accounts. The trading programs primarily use US dollars and involve various offshore entities. London and Zurich are key centers for these activities, and gold plays a significant role. The US government collects a percentage of the proceeds through private tax treaties with offshore entities, while rumors suggest some of the tax revenues may be diverted for private purposes.

These types of trading programs are primarily conducted by governments, treasury departments, and top international banks, with G7 nations dominating the scene. Supervision is challenging due to the multi-jurisdictional nature of these programs. Suspicious funds enter the system but are made clean through complex transactions. “Black” gold, cash, and convertible assets serve as collateral to initiate trading programs, along with privately lodged government-issued Treasury Notes and Bonds in major western banks.

Banks leverage these assets to issue their own debentures, which are then traded electronically at steep discounts. The difference between buy and sell prices generates profit known as “fallout,” which can amount to trillions of dollars.

Examples of such programs include Hammer, which resulted in a fallout (skimmed profits) of over US$220 billion in 1992 US Dollars, and Jacobe, which was only partially completed but had the potential for a fallout of US$2.75 trillion before 1988.

Date References

World War II: 1939-1945

Trading program EFG Jacobi: Predecessor of Project Hammer, prior to 1988

Project Hammer operation: 1988-1992

Bank of England lifts veil of secrecy surrounding gold: 1997

Brigadier General Erle Cocke’s affidavit from a confidential investigation on Project Hammer: April 2000

The Gold Connection and Repatriation

At the heart of Project Hammer lies a dark secret: the illicit repatriation of gold stolen throughout Asia, Europe and North Africa during World War II by the Nazi and Japanese military. These vast quantities of gold, along with lesser amounts of platinum, were the asset base upon which these trading programs operated. Gold, being a stable commodity used to back currency issuance, had long been shrouded in government and central bank secrecy. Only in 1997 did the Bank of England lift the veil of secrecy surrounding gold, although the true extent of its existence remains hidden from official figures.

Trading Programs That Don’t Exist

To maintain the secrecy surrounding genuine activity, trading programs like Project Hammer were consistently denied to exist. Inquiries about them were deflected, and attention was redirected to warnings about “fraudulent programs” as a smokescreen. By focusing on the numerous prosecutions of fraudulent High Yield Investment Program transactions, the impression was created that authorized programs did not occur. This deliberate deflection served the purpose of concealing the true operations and financing techniques of these covert trading programs.

Banking Profits and Illicit Diversions

Project Hammer stands out not only for its covert activities but also for the illegal diversion of trading proceeds by major banks. Brigadier General Erle Cocke’s affidavit in April 2000 confirmed this illegal diversion, exposing the involvement of former US Treasury Secretary, Lloyd Bentsen, in investigating and recovering the missing funds. Surprisingly, no agency or group, including the Federal Reserve, Treasury, CIA, or FBI, was willing to take action against the banks, indicating their overwhelming power and influence.

Banks on the Brink of Collapse

By the late 1980s, major banks such as Citibank, Chase Manhattan, and Hong Kong & Shanghai Banking Corporation were teetering on the brink of bankruptcy. Their downfall was the result of reckless lending to Third World nations coupled with the greed of senior bank executives. The article sheds light on the damage caused to the global banking system and how the spiral of gluttony led to dire consequences.

Project Hammer’s Unexpected Role

As the fear of a domino effect loomed over the world’s top banks, a decision was made to divert Project Hammer funds to bail out these financial institutions. Despite causing the banking crisis in the first place, banking executives escaped accountability while collecting exorbitant salaries and bonuses. Names such as John Reed of Citibank and Sir William Purvis of Hong Kong & Shanghai Bank come to the forefront, as their relief mirrored the collapse of others’ investments.

Investors’ Losses and Bankers’ Gains

While investors and middle-men involved in Project Hammer anticipated profits and commissions, they ultimately suffered substantial losses. Unbeknownst to them, their money became the gain of bankers involved in the illicit diversion of funds. This perverse scenario epitomized the darker side of the banking world.

Project Hammer’s Hidden Legacy

Project Hammer remains a tightly guarded state secret in numerous countries, including the United States. The secrecy and covert operations associated with these trading programs have obscured the comprehensive details of their activities and financing techniques. However, through the revelations presented in this article, a glimpse into the hidden world of Project Hammer emerges, shedding light on the intersection of illicitly obtained gold, banking profits, and clandestine black operation projects.

Reference List:

The Gold Connection and Repatriation

War II: The Nazis and Japanese plunder large volumes of gold and platinum during the war.

Bank of England: In 1997, the Bank of England lifts the veil of secrecy surrounding gold.

Official figures: The true amount of gold in existence exceeds official figures by over 100,000 tons.

Trading Programs That Don’t Exist

High Yield Investment Program transactions: Numerous prosecutions of fraudulent transactions created the impression that authorized programs do not exist. This shielded the actual ongoing gold trading platforms from public discovery.

Investigations into Banking Profits and Illicit Diversions

Brigadier General Erle Cocke: Provides an affidavit in April 2000, confirming the illegal diversion of Project Hammer funds by major banks.

Lloyd Bentsen: Former US Treasury Secretary involved in investigating and recovering the missing funds.

A Few Images of Many Trading Account Documents Discovered

 Part 2 of Project Hammer will cover the specific sources of gold and the classified military operations behind an estimated 100,000+ metric tons of the stolen Yellow Metal.

https://ai3d.blog/part-1-project-hammer-insider-trading-platforms-using-off-ledger-ww2-gold/

KTFA Members "News and Views" Saturday PM 6-3-2023

KTFA:

Clare:  Preferring a date for approving the budget law

6/03/2023

Today, Saturday, the Parliamentary Finance Committee suggested a date for approving the budget law, stressing that it will be approved before the legislative recess that begins on June 9.

A member of the committee, Saad al-Toobi, said, according to the official newspaper, that “the committee requested earlier to set a date for the session, because there is nothing to delay voting on the budget, as the committee needs hours only in order to make transfers that are almost ready and are just waiting for classification in the budget.” As well as some additives.

He explained that “the delay that is taking place now is only for the sake of the region’s articles that were duly voted on within the committee,” adding, “But it is possible that political consensuses will take place and the vote will be changed,” noting that “it is possible to change the voted materials because the voting took place in Within the committee, the budget was not voted on in its entirety, and this is one of the legal tricks.”

And he continued, “Parliament will enter its legislative recess on the ninth of June, so the budget will be approved effectively before this date,” and indicated that “it is possible that a date will be set for the next Sunday or Monday to vote on the budget in Parliament.”  LINK

Ryan1216:  I pray the budget passes this week

TSM:  Before this week, the coming days, soon.....pretty hard to do all of this when they just sit on their hands...HOW about NOW!!!!!!  Imo

Clare:  THAT MEANS TOMORROW OR MONDAY... COME ON IRAQ!    Imo

Zeeman: Excellent news. maybe the imf got to them or maybe they learned the word common sense or june 9 vacation time   or all of the above but in any case this is very good  imo

Gameofpatience:  Opinion:  Budget and remaining laws are waiting for the rate change and need about a week to complete. Isn't Iraq now generically stating "NEXT WEEK" (by June 9th).
Read carefully: "NEXT WEEK" starts TOMORROW.

GMan:  Nailed it. And let's not forget the other countries involved... It's about Iraq and it's not about Iraq. Again

Clare:  I PRAY THIS IS THE WEEK WE ALL CROSS OVER THE FINISH LINE TOGETHER!

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Clare:  International Monetary Fund: The Central Bank of Iraq has made progress in combating money laundering

6/3/2023  Baghdad

The International Monetary Fund praised the progress made by the Central Bank of Iraq in combating money laundering and terrorist financing.

"The IMF mission welcomes the progress made by the Central Bank of Iraq in the field of improving cash management, anti-money laundering and counter-terrorism financing frameworks," the fund said in a press statement, posted on its website and viewed by Al-Iqtisad News.

The fund confirmed that the mission stresses the importance of close coordination between the positions of monetary and public financial policies in managing the Iraqi economy. LINK

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Clare:  Within 24 hours... Iraq announces the killing of 10 ISIS members, as a result of air strikes

6/03/2023

The Security Media Cell announced, on Saturday, that 10 terrorists had been killed in three operations in which Suqur al-Jaw and the Counter-Terrorism Service participated, during the past 24 hours.

This came, based on the directives of the Commander-in-Chief of the Armed Forces, and under the supervision of the Joint Operations Command, according to a statement received by Shafaq News agency, as the security forces of all kinds continued to maintain pressure on the terrorist elements according to a well-articulated plan that caused them loss of life and destroyed their hideouts.

The cell stated, "The Air Hawks launched a successful air strike yesterday, Friday, in the Hamrin mountain range, killing four terrorists, and the Anti-Terrorism Service was able to kill three terrorists, while the Iraqi Air Force succeeded in launching another air strike complementing yesterday's efforts in Diyala sector - Hamrin Mountains, which resulted in the destruction of a number of dens and the killing of three terrorists.   LINK

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Clare:  By majority.. Parliamentary swings to pass the budget this week - Urgent

6/03/2023   Baghdad

Today, Saturday, the leader of the coordination framework, Fadel Mawat Al-Azrigawi, suggested a majority vote on the budget law during the current week.

Al-Azrigawi confirmed to (Baghdad Today) that "there is a political movement among the political forces in order to vote on the budget law during the current week, as there is a parliamentary and political majority that supports this approach."

The leader explained in the framework that "the Kurdistan Democratic Party does not have any real objections to the budget law, but rather it is trying to pressure in order to obtain more gains within the budget."

He pointed out that "the current political movement will enable everyone to obtain consensus to pass the budget before this week."

Earlier, a member of the Al-Fatah Alliance, Representative Salem Al-Anbuge, confirmed that the coordination framework is waiting for the Kurds' response to the Mandalawi meeting.

Al-Anbuge told (Baghdad Today) that "the coordination framework forces held an important meeting at the claim of the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, to discuss the 2023 budget file in light of recent developments."

He added, "The framework meeting came to avoid passing the budget by the political majority, and for a political agreement to be the solution by converging views."  LINK

Clare:  The New President Of The World Bank Takes Over

6/03/2023

Ajay Banga, the new president of the Indian-American International Bank, officially assumed his duties on Friday, succeeding David Malpas, who yesterday ended his term at the helm of this institution, according to close sources.

Banga was the only announced candidate, the former head of the payment systems group MasterCard, was elected without a surprise in early May.

If Ajay Banga is the second official of the World Bank not born in the United States after Jim Yong Kim, who was born in South Korea but grew up in Iowa, then he is the first who did not graduate from an American university after studying and starting his career in his native India.

This comes in the context of reforms to the institution, which announced last March an increase in its funding by five billion dollars annually over the next ten years.

The content of the reforms will be revealed during the next annual meeting of the World Bank and the International Monetary Fund in October in Marrakesh (Morocco).

The Foundation is expected to demonstrate its ability to enhance its efforts to help fund the fight against global warming. Some countries, especially the least developed countries, fear that this will be done at the expense of combating poverty.

In a message addressed to all employees, Banga affirmed his desire to “create a world without poverty on a livable planet,” considering that “the realization of these aspirations requires that we develop, be creative, use our resources to the maximum extent, and establish new partnerships with civil society.”

The new official also paid tribute to his predecessor, David Malpass, a “fierce defender of the World Bank,” thanks to whom he “made great progress in our missions.”

For his part, the latter wrote in a post on his personal page on LinkedIn on Thursday, summarizing his achievements and recalling in particular “the World Bank’s rapid response to a series of global crises with the allocation of $440 billion.”

"During my tenure, the World Bank doubled its funding to address global warming in developing countries by a record $32 billion," he said.

David Malpass confirmed that his assumption of the presidency of the World Bank was “a great honor” and thanked “its staff and the board of directors for working together.”

Although he is highly regarded internally, particularly by the Foundation's staff, David Malpass has not succeeded in silencing critical voices abroad, particularly regarding his lack of interest in climate issues.

The topic came back to the fore last September when a New York Times journalist asked him during an event about it, and Malpass refused to admit that human activities are the main cause of global warming.

He later confirmed this on several occasions, but this hesitation contributed to the consolidation of his image as a skeptic of the climate fluctuations put forward by former US Vice President Al Gore. LINK

Cuban President: Time To Ditch the Dollar

Cuban President: Time to Ditch the Dollar

Saturday, 3 June 2023

Dollar Detox: ‘Time to ditch the dollar,’ says Cuban President

Cuban President Miguel Diaz-Canel has asked developing countries to dump the US dollar as it would set them free from Washington’s ‘sanctions, blackmail, aggression, and slander’

The call for de-dollarisation is getting louder as Cuba has come forward to ask developing countries to dump the US currency as it would set them free from Washington’s “sanctions, blackmail, aggression, and slander.”

Cuban President Miguel Diaz-Canel said that dollar’s status as the world’s reserve currency enables the US to pursue an “aggressive hegemonistic policy of building walls, imposing punitive sanctions, blackmail, aggression and slander.”

BRICS has ‘brilliant alternative’ for dollar

In an interview to RT, Diaz-Canel said “BRICS provides a brilliant alternative for economic integration, especially for developing economies.”

BRICS, an acronym for five emerging economies – Brazil, Russia, India, China, and South Africa – has its own development bank.

The alliance of BRICS has overtaken the US-led G7 bloc in its share of global GDP.

BRICS nations have been considering creating a new currency to settle cross-border trade. The idea was mooted by Russia as it faces economic sanctions from the West over its invasion of Ukraine.

The new financial agreement could be seen as early as in August when the member nations meet in South Africa for their annual summit.

It is also worth mentioning that some of the BRICS countries have already ditched dollar and are facilitating trade in their local currencies.

De-dollarisation will lead to more inclusive trade

The Cuban president said: “I believe that we need to recognise the leading role of Russia in shaping this multipolar world.”

He further stated that continued “de-dollarization” will lead to “more inclusive and more mutually beneficial trade” for those who reject the US’ “lies and empty promises.”

Why Cuba is in favour of BRICS currency?

Cuba is not a member of BRICS, but it is a close trading partner of Russia since the days of the Soviet Union.

According to RT, trade between Russia and Cuba tripled to $452 million last year.

Last week, Russian Deputy Prime Minister Dmitry Chernyshenko visited Cuba where he announced that Russian firms were planning to increase its investment in the island nation’s tourism sector.

“It is at times like this that we get friends from other countries supporting us with real actions and under conditions that are not harmful to our independence,” the RT report quoted Diaz-Canel as saying.

Source: Firstpost

https://dinarchronicles.com/2023/06/03/cuban-president-time-to-ditch-the-dollar/

Goldilocks " Copper, SDR's, Gold Standard and more" 6-3-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good morning Dinar Recaps,

Goldilocks posted news links and comments this morning to help us all understand what is happening in the financial sector:

Hoarding Copper is the Next Silver: Here's Why.

https://youtu.be/8pDNXcJNXr0

 Copper is the next silver.

The IMF is currently making adjustments to their Special Drawing Rights currencies. 

"Special drawing rights are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund."

SDRs are foreign currencies held in reserve by the IMF to provide liquidity to countries that need them.

They are reallocating the percentages to be inclusive of some of the smaller countries. 

This reallocation will reset the Global Economy and provide a Level Playing Field going forward to aid in the transition of our global economy. 

© Goldilocks

Jamaica-Gleaner LINK

https://www.imf.org/en/Topics/special-drawing-right

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"The European Commission is proposing risk weight adjustments for stablecoins and tokenized assets, aiming to facilitate commercial lenders’ inclusion of these assets.

The proposal calls for a 1,250% risk weight on digital assets, creating a maximum capital requirement for lenders. It also seeks to reduce the risk weight to 250% for stablecoins backed by non-fiat assets such as gold."

You might want to reread the above again, so you can realize what is going on at this time. 

We are currently adding a standard weight of an asset or commodity to make our new digital assets or tokens hold a particular price for stablecoins.

This standardized protocol will fulfill the Basel 3 capital requirements for a Gold Standard. 

The next step will be to apply these same protocols to our paper currencies around the world. Keep your eyes on the Gold Standard Restoration Act. https://www.congress.gov/bill/118th-congress/house-bill/2435

All of these actions will cause a repricing event on gold, and it will reset their values allowing a Level Playing Field to launch.

© Goldilocks

https://www.euronog.eu/eu-proposes-lower-risk-weight-for-stablecoins-tokenized-assets/

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The Rupee is being considered for a reserve SDR currency inside the IMF reserves.

India is the country that holds the Sovereign Gold Bonds

This will go a long way in leveling the playing field in that area of the world.

© Goldilocks

The Print LINK

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Recently, the Global Economy has been focusing on Foreign Exchange Protocols. 

© Goldilocks

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We are getting word that the Libor transition into the SOFR lending system is still on target for June 30th to July 1st. 

They are already keeping track of both systems as it changes over into a fully collateralized commodity-based system inside SOFR lending services. And, we are in a strong position for this to happen at this time.

This will help the markets and Banks shift into a monetary system that will begin to support our new economy. 

© Goldilocks

IFLR LINK

Chatham Financial LINK

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Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

"Tidbits From TNT" Saturday 6-3-2023

TNT:

Tishwash:  The Iraqi Credit Bank decides to distribute cash dividends worth 30 billion dinars to shareholders

The Credit Bank of Iraq decided to distribute cash dividends worth 30 billion dinars to shareholders during the year 2022.

The head of the Iraq Stock Exchange Investors Association, Alaa al-Moussawi, told Al-Eqtisad News that the General Authority of the Credit Bank held its meeting today, Saturday, in Erbil.

He added that the meeting included discussing the report of the Board of Directors, the report of the auditor, and the final accounts for the year 2022, and approving them unanimously, in addition to distributing cash dividends amounting to 30 billion dinars, or 12% of the capital.

He confirmed that the next credit policy was discussed     link

Tishwash:  Parliamentary Finance: The budget will be approved before the ninth of this month of June

 A member of the Parliamentary Finance Committee, Saad Al-Toobi, confirmed, on Saturday, that the budget will be approved before the ninth of this June.

Al-Toubi said, "The committee requested earlier to set a date for the session, because there is nothing to delay voting on the budget, as the committee needs hours only in order to make transfers that are almost ready and are just waiting for classification in the budget, as well as some added materials."

He explained that "the delay that is taking place now is only for the sake of the region's articles that were duly voted on within the committee," adding, "But it is possible that political consensus will take place and the vote will be changed," noting that "it is possible to change the voted materials because the voting took place in Within the committee, the budget was not voted on as a whole, and this is one of the legal tricks.”

And he continued: "Parliament will enter its legislative recess on the ninth of June, so the budget will be approved effectively before this date," and indicated that "it is possible to set a date for the next Sunday or Monday to vote on the budget in Parliament."

Al-Tobi indicated that "there are drafts that have arrived as proposals adopted by the (Coordinating Framework) or (the State Administration Coalition) regarding the region's share, as the dispute was that the region refuses to export through the (SOMO) company, and it also rejects the issue of the bank account, demanding that the region's government act directly with the account."

He explained, "What we have now reached is that the region agreed to export through the (SOMO) company, but the bank account is not by opening an account in the central bank, but rather an account approved by the central bank. link

************

Tishwash:  A 'right direction'.. Iraq is boosting its reserves of the 'precious metal'

Experts and researchers in the economic affairs considered the purchase of new quantities of the yellow metal as a "right direction" by the Central Bank of Iraq, pointing out that many countries of the world are striving to possess it in support of their reserves due to the state of apprehension resulting from the geopolitical and economic instability that dominates the global scene. .  

The Central Bank of Iraq recently announced the purchase of new quantities of gold of approximately 2.3 tons, which resulted in an increase in its possession of this metal by 1.79 percent, bringing the total that Iraq possesses (132.74) tons, maintaining its sequence in the rank (30) in the ranking. Possession of gold for the countries of the world.    

Economist Dr. Nabil Al-Marsoumi said in a statement to the official newspaper, followed by "NAS" (June 3, 2023), that "the trend towards the acquisition of precious metal represents an important and desirable matter in monetary policy, in addition to being a wise act by the Central Bank of Iraq that simulates the behavior of central banks." In the world".  

Al-Marsoumi added, "The United States of America has the largest gold reserves in the world, estimated at 8,000 tons, followed by Germany, and Iraq is currently moving in this direction to diversify its investment portfolio," noting that "gold constitutes about 9 percent of international reserves."  

The spokesman believes that the acquisition of gold represents a correct global trend by central banks as a result of its continuous rise, so that global central banks go to buy more of it in support of international reserves due to fears of an imminent economic recession, which leads to preferring hedging from it to avoid global inflation.  

Al-Marsoumi indicated that it is expected that central banks will continue to purchase the precious metal in the short term due to the state of geopolitical and economic instability that dominates the global scene as a result of the Ukrainian war and before that the Corona pandemic, pointing out that Iraq is working to maintain its thirtieth position in the ranking of countries in possession of gold.  

In turn, the researcher in the economic affairs, Imad Al-Muhammadawi, said in a statement to the official newspaper, that several countries are seeking to possess gold, with the aim of doubling their reserves of the precious metal and thus increasing their hedges to confront inflation due to their apprehension about the future of the global economy, pointing out that Iraq is not the only country that seeks that, but most International banks tend to support their international reserves.  

Al-Muhammadawi confirmed that the data issued by the World Gold Council indicated that international investment funds purchased 32 tons of gold last March for the current year 2023, which is equivalent to $1.9 billion.  

It is noteworthy that the Investments Department of the Central Bank of Iraq made it clear that the purchase process came with the aim of increasing its possession of gold in light of the economic and political conditions that the world is witnessing, noting that gold is one of the most important components of the reserves held by banks and international financial institutions, as these banks and institutions deliberately To increase its reserves of this metal on an ongoing basis, because this procedure has a positive impact on the financial solvency of these institutions and the creditworthiness of their countries.    link

Mot:  .... its a Marital Thingy! - Trust Me!!! – LOL

Mot: .... an Elevator full of peoples!! – LOL